Resolution No. 69-13 Resolution No. 69-11
CITY OF TIGARD, OREGON
C RESOLUTION RATIFYING ALL PROCEEDINGS WITH RESPECT TO THE
ISSUANCE AND SALE OF BANCROFT BONDS IN THE SUM OF
$33,765.20 AND PARTICULARLY RATIFYING THE AWARD OF THE
BONDS TO THE UNITED STATES NATIONAL BANK OF OREGON.
WHEREAS, bids were opened for the sale of $33,765.20 general
obligation Bancroft bonds of the City of Tigard with respect to
bonded improvement assessments on the "O.E.A. TRUNK SEWER IMPROVE-
MENT DISTRICT" at a special meeting of the City Council on June 2,
1969; and
WHEREAS, at said special meeting, all members of the Council ,
were in attenance excepting Councilman O'Halloran; and
WHEREAS, it is necessary and desireable that the records of
the City reflect the action taken at said special meeting be ratified
and confirmed at a regular meeting of the City Council;
NOW, THEREFORE, BE IT RESOLVED, that the action taken at the
special meeting of June 2, 1969, of the City Council of Tigard award-
ing the sale of $33,765.20 general obligation sewer improvement dis-
tract bonds to the United States National Bank at a coupon interest
rate of 5-3/4%, with a total effective interest rate of 5.7367%, be
and the same is hereby ratified and confirmed.
BE IT FURTHER RESOLVED that all action and proceedings here-
tofore conducted by the City of Tigard with respect to the sale of
said bonds be and the same are hereby ratified and confirmed.
BE IT FURTHER RESOLVED that the Mayor and Recorder of the City,
and each of them, are hereby authorized and directed to sign the
}: said bonds for and on behalf of the said City and the Recorder be
and she is hereby directed to docket the said bonds in the Bond Docket
as soonas same are authenticated and to affix the seal of the City
to the same prior to delivery thereof to the United States National
Bank in exchange for the consideration as bid by the said Bank.
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PASSED by the Council at its regular meeting of June t.3 , 1969•
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Mayor - C ty or TXqard
ATSEST:
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Recorder-� y o 3�3.gard
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1 - Resolution - 6/.2.3/69
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